Barclays to sell three-year contingent income autocallables on Amazon

By Devika Patel

Knoxville, Tenn., Jan. 5 – Barclays Bank plc plans to price contingent income autocallable securities due Jan. 15, 2021 linked to Amazon.com, Inc. common shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of at least 8% if the stock closes at or above its downside threshold level, 80% of its initial level, on the review date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par if the stock closes at or above its initial level on any determination date other than the final one beginning on April 12, 2018.

The payout at maturity will be par plus any coupon unless Amazon shares finish below the 80% downside threshold level, in which case investors will lose 1% for each 1% decline.

Barclays is the agent with Morgan Stanley Wealth Management as dealer.

The notes (Cusip: 06746P639) will price Jan. 12 and settle on Jan. 18.

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